GWA JV Gets Lincoln Extension from OGA
Hurricane Energy plc revealed Wednesday that the UK Oil & Gas Authority has extended the deadline for the commencement of the GWA (Greater Warwick Area) joint venture's commitment well on the Lincoln subarea of license P1368 to June 30, 2022.
The deadline for plugging and abandoning well 205/26b-14 (Lincoln Crestal) has also been extended to June 2021, Hurricane Energy revealed. The company requested the extensions “in light of the Covid-19 pandemic” Hurricane Energy outlined.
"We would like to thank the Oil and Gas Authority for their flexibility regarding the timing of activities planned at Lincoln during these challenging times,” Hurricane Energy Chief Executive Robert Trice said in a company statement.
The GWA comprises licenses P2294 and P1368 South and is being developed through a joint venture between Hurricane Energy, which holds a 50 percent stake, and Spirit Energy, which holds the remaining 50 percent interest. According to Hurricane Energy’s website, Lincoln holds gross 2C contingent resources of 604 million barrels of oil equivalent.
Hurricane Energy is a UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs. Spirit Energy is an exploration and production company also based in the UK.
The OGA’s role is to regulate, influence and promote the UK oil and gas industry in order to maximize the economic recovery of the UK’s oil and gas resources, according to the organization’s website.
Earlier this year, the OGA revealed that it had reprioritized in the wake of the coronavirus outbreak and the latest oil price crash. In a statement posted on its website, the OGA said it would take a pragmatic approach to compliance where it can and a flexible approach to considering amendments to license timelines.
As of May 26, there have been 5.4 million confirmed cases of Covid-19 around the world and 343,514 deaths, according to the latest data from the World Health Organization.
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